GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Trading Down 8.7% – What’s Next?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) shares traded down 8.7% during mid-day trading on Thursday . The stock traded as low as $31.20 and last traded at $31.66. 2,164,321 shares changed hands during trading, an increase of 228% from the average session volume of 660,204 shares. The stock had previously closed at $34.66.

GraniteShares 2x Long META Daily ETF Stock Performance

The company’s 50 day simple moving average is $30.89 and its 200-day simple moving average is $27.24.

Institutional Investors Weigh In On GraniteShares 2x Long META Daily ETF

A hedge fund recently raised its stake in GraniteShares 2x Long META Daily ETF stock. TRUE Private Wealth Advisors boosted its stake in shares of GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,457 shares of the company’s stock after purchasing an additional 1,060 shares during the period. TRUE Private Wealth Advisors owned about 0.82% of GraniteShares 2x Long META Daily ETF worth $1,053,000 at the end of the most recent quarter.

About GraniteShares 2x Long META Daily ETF

The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Meta Platforms, Inc Class A stock. FBL was launched on Dec 13, 2022 and is managed by GraniteShares.